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Dec 11, 2013
12/13
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we will break down the final version of the volcker rule coming up. and that's the end of the road for the volkswagen minibus. they are going to stop making it altogether because of new safety and environmental regulations. there is a beautiful old one. it has been on the road since 1950. ♪ >> in wall street, this is a big day for the volcker rule, the one with a bunch of new regulations meant to ban proprietary trading at big banks. that means they cannot trade money that does not help the clients. fed chair ben bernanke says the volcker rule will limit risk- taking. it has been many years in the making. >> i don't think they should make it all that complicated. why are we sitting here three years later? >> where do we stand now, and what exactly is this? >> it does ban proprietary trading for banks on wall street, trading off their own accounts, trying to profit off their own accounts. it also bans them from participating with some limitations and hedge funds and private equity funds. the language is very important. it is tougher on the hedging si
we will break down the final version of the volcker rule coming up. and that's the end of the road for the volkswagen minibus. they are going to stop making it altogether because of new safety and environmental regulations. there is a beautiful old one. it has been on the road since 1950. ♪ >> in wall street, this is a big day for the volcker rule, the one with a bunch of new regulations meant to ban proprietary trading at big banks. that means they cannot trade money that does not help...
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Dec 10, 2013
12/13
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bernanke says the volcker rule will limit risk- taking. it has been many years in the making. >> i don't think they should make it all that complicated. why are we sitting here three years later? >> where do we stand now, and what exactly is this? >> it does ban proprietary trading for banks on wall street, trading off their own accounts, trying to profit off their own accounts. it also bans them from participating with some limitations and hedge funds and private equity funds. the language is very important. it is tougher on the hedging side of things, things like the london whale trading that jpmorgan went through. we might know exactly -- we might not know exactly how the rule will impact banks. one analyst is not expect all that much. >> traditional market-making activities will be perfectly allowable. what the fed will ultimately be looking at is defining this as a gray area. they probably will not define market-making specifically. they probably will take a "we know it when we see it" approach and if they see too much beatility, that
bernanke says the volcker rule will limit risk- taking. it has been many years in the making. >> i don't think they should make it all that complicated. why are we sitting here three years later? >> where do we stand now, and what exactly is this? >> it does ban proprietary trading for banks on wall street, trading off their own accounts, trying to profit off their own accounts. it also bans them from participating with some limitations and hedge funds and private equity...
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Dec 9, 2013
12/13
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he is thinking about the final version of the volcker rule. it is coming out this week. >> there's a possibility we are going to go too far. i'm not being a pessimist. i am being pretty pragmatic. i do think i know more about the markets then most. i am alarmed that it may be too far it may have some unintended issues that could be impactful. >> he is alarmed at the leverage ratios. >> and expresses i do not believe will be coming from banks. it may not come in financial services. maybe it is technology. it will be cybersecurity. the big crisis i do not think will be in an ansell services. >> number two is the blackrock president. he says it is time to be a little cautious. time, people are very concerned about their future investment. they have seen the stock market do pretty well. they are concerned about where bonds are. they're looking to squeeze more return out of their assets. how much more can they squeeze when they have the finger on the button? we have an institute that an exhaustiven way. over half of our senior portfolio managers th
he is thinking about the final version of the volcker rule. it is coming out this week. >> there's a possibility we are going to go too far. i'm not being a pessimist. i am being pretty pragmatic. i do think i know more about the markets then most. i am alarmed that it may be too far it may have some unintended issues that could be impactful. >> he is alarmed at the leverage ratios. >> and expresses i do not believe will be coming from banks. it may not come in financial...
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Dec 30, 2013
12/13
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. >> one of the most contentious topics they had to consider was the volcker rule. >> it was probably amongst the most challenging. we were involved with 68 final guidances in rules and orders. that is the most challenging. to prohibit on one hand proprietary trading record raise the risk of taxpayers. it does look like that one is in the courts as well. >> you were not afraid to but heads with the folks on wall street, former colleagues there, and regulators overseas. i heard dan gallagher said at one point in -- among european regulators, your name is like a curse word. are you ok with that? >> we are good friends and we used to commute from baltimore together. we chat about it and laugh about it since he said those words. i am all right and we remain good friends. >> you had to throw a few elbows along the way. >> i look at it this way. are really important matters. the financial market derivatives is 400 trillion dollars in size. that is nearly $25 for every five dollar in our economy. there is no doubt there will be differences at times. we were trying to bring transparency to th
. >> one of the most contentious topics they had to consider was the volcker rule. >> it was probably amongst the most challenging. we were involved with 68 final guidances in rules and orders. that is the most challenging. to prohibit on one hand proprietary trading record raise the risk of taxpayers. it does look like that one is in the courts as well. >> you were not afraid to but heads with the folks on wall street, former colleagues there, and regulators overseas. i heard...
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Dec 5, 2013
12/13
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what has reflected the volcker rule? >> they do not want to damage that. they will be vague and leave someone will room for the banks to continue to run their business. if they shut down their business, which largely, they have, that will satisfy regulators. will have to see next week. thank you so much michael moore. we appreciate your insight.
what has reflected the volcker rule? >> they do not want to damage that. they will be vague and leave someone will room for the banks to continue to run their business. if they shut down their business, which largely, they have, that will satisfy regulators. will have to see next week. thank you so much michael moore. we appreciate your insight.